Villanueva wants to lower VAT, liberalize importation of rice

MANILA, Philippines — Sen. Joel Villanueva backed President Rodrigo Duterte's call in his third State of the Nation Address not to suspend the implementation of the Tax Reform for Acceleration and Inclusion or TRAIN law.

 

Villanueva, who chairs the Senate Committee on Labor, Employment and Human Resources Development, on Monday proposed instead to lower the percentage of the Value Added Tax from 12 percent to 10 percent to "mitigate" the high inflation rate in the country. He said the unnecessary exemptions in VAT must be removed to lessen the burden of Filipinos.

 

The senator also proposed the "liberalization" of the importation of rice in the country to attain the president's vision of P7 per kilo of rice.

 

Watch Villanueva's interview with reporters here: